News

More store closings in the works at Sears
As Sears Holdings continues to struggle, the chain has once again updated is restructuring plan. The embattled retailer has added 72 more stores to its list of upcoming closures. This is in addition to more than 180 closings that it already an-nounced, according to Business Insider.
Fast-growing home decor chain raises outlook
At Home reported a strong first quarter, helped by the addition of 23 new stores the chain opened in the past 12 months — and there are more on the way.

Bebe winds down brick-and-mortar operations

It’s closing time for Bebe Stores. The struggling apparel retailer said on Wednesday, June 7, that it reached agreement with substantially all of its retail store landlords to terminate their existing leases. The cost to terminate the leases is estimated to be approximately $65 million.
Harris: Retailers take top spots in social responsibility poll

Consumers rank Wegmans, Publix Super Markets, and Amazon.com as the top three companies when it comes to corporate social responsibility efforts.
Macy’s mulls rooftop park atop New York City flagship

Macy’s is toying with a lofty idea that could create more traffic at its Herald Square store in New York City.
Study: Fulfillment costs erode up to 70% of brands’ order value

Complexities associated with online shipping and fulfillment are eating into retailers’ profitability. This was according to “Strategies for Agile, Profitable and Secure Omnichannel Execution.” The report, from Radial, revealed that more than 55% of customers are using multiple channels, such as online and mobile to shop.
Beauty retailer steps up augmented reality offering

Sephora is upgrading its app-based digital makeover experience. The beauty chain is expanding the functionality of its Sephora Virtual Artist, an augmented reality-based feature on its mobile app that enables shoppers to digitally try on make-up. The app’s new Cheek Try On service allows users to virtually try on over 1,000 shades of cheek color, including blush, bronzer, contour, and highlighter shades available in single colors and palettes.
Amazon gets caught in rare outage

Even Amazon isn’t immune to the occasional online hiccup. Pages failed to load across the online store on Wednesday, June 7. When they did, customers viewed a 503 error message, along with snippets from the online retailer’s “Meet the Dogs of Amazon” page, which included photos and stats of the company’s canines, according to The Verge.
Changing of the guard at West Elm

Williams-Sonoma's West Elm division has tapped a company veteran as its new president. Alex Bellos, head of Williams-Sonoma's Rejuvenation and Mark and Graham brands, is succeeding Jim Brett as president of the West Elm brand. On Tuesday, Brett announced he was resigning from the company to take a position as CEO of J.Crew.
German discount grocer in deal with fashion icon

Supermodel, designer, TV star and all-around celebrity Heidi Klum is teaming up with an unusual partner. On the heels of its entry into the United States, German discount grocer Lidl announced its first ever fashion collaboration, with Heidi Klum. The collection, described as high-end yet affordable, will be available exclusively at Lidl and will launch across its stores in Europe and the United States later this year. Collections will be featured at certain times throughout the year, during "Lidl Fashion Weeks.”
Michaels Q1 earnings, sales miss as competition heats up

Increased online and offline competition is giving arts and crafts leader Michaels Cos. a run for its money. The company's profit fell 20% to $67 million, or 38 cents a share, in the first quarter ended April 29, down from $85 million, or 34 cents a share, a year ego. Its results missed analysts' expectations. Total sales were flat at $1.16 billion, also less than expected. Same-store sales fell 1.2%
CVS acquires regional chain

CVS Pharmacy has expanded its footprint in Illinois.